Precious metals and miners are consolidating before their next advance. Gold prices could reach $1700+ by March, and we see explosive potential in silver.
Mid-cycle consolidations are normal and part of every cycle. After rallying more than $165 from the November low, gold is taking a well-deserved breather. Bullish sentiment is waning, and the next advance should carry the uptrend into March.
Gold is in the midst of a natural mid-cycle consolidation. Once complete, gold prices should extend to the March target box and approximately $1700.
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